2. What kind of reports should be used to give better insight into how well departmental supervisors are controlling costs? Flexible budget performance reports must be used Fixed budget performance reports must be used 3. Complete the new performance report for the quarter, based on Flexible Budget Performance approach. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect i.e., zero variance). Input all amounts as positive values.) Assembly Department Flexible Budget Performance Report For the Month Ended March 31 Activity Variances Flexible Budget Spending Variances Machine-hours (9) Supplies Scrap Indirect materials Wages and salaries Equipment depreciation Total Planning Budget 30,000 $ 8,400 27,000 88,500 68,000 98,000 $ 289,900 Actual Results 25,000 $ 7,800 25,200 75,800 71,500 98,000 $ 278,300 4. Were costs well controlled in March? Costs were well controlled O Costs were not well controlled